The resilience of the U.S. stock market in the face of uncertainty both from the COVID-19 pandemic and riots that have spread to most major cities has been a sight to behold. The S&P 500 rose almost 5% for the month and the Russell 2000 index did even better with a gain of 6.4%.
Instead of focusing on the fact that we don’t have a viable vaccine or that temporary unemployment could turn into structural long-term unemployment as businesses both small and large declare bankruptcy, the market chose to focus on…